The Dutch Good Growth Fund – Financing local SMEs (DGGF) operates through a fund‑of‑funds model. These funds then provide capital and guidance to promising local businesses, helping them grow, strengthen operations, and ultimately access institutional finance. One such local businesses is Figorr, a Nigerian technology company that provides real‑time monitoring for temperature‑sensitive products across agriculture, healthcare, and logistics.
Figorr: real‑time insight for safer, smarter cold chains
Figorr develops tools that help businesses keep perishable products - such as fresh food, vaccines, and medicines - at the right temperature during storage and transport. The company uses transport materials equipped with sensors that measure temperature, humidity, and location, sending alerts when something goes wrong, such as goods being exposed for too long, a fridge warming up or a truck door being left open. This helps businesses act quickly and prevent products from spoiling.
How Figorr started and where it operates
Figorr was founded by Oghenetega Iortim after he experienced major losses in his own agricultural business due to poor storage. The company began by offering mobile, solar‑powered cooling boxes before shifting its focus to the monitoring technology that customers found most useful. In 2023, Figorr raised US $1.5 million in seed funding led by Atlantica Ventures, a valued DGGF investee. This funding supports Figorr’s expansion and the development of a risk‑management platform, which will help insurance companies offer products designed specifically for businesses that handle perishable goods. Today, Figorr operates in Nigeria, Ethiopia, Ghana, Kenya, South Africa, Tanzania, and Uganda.
Image: © Figorr
Using data to support decision‑making and reduce losses
Figorr’s system does more than measure temperature. The data it collects allows businesses to show exactly how goods were stored or transported. This is important for insurance, because perishables are often seen as high‑risk. With clear data, insurers can better understand what happened if goods are damaged, which can make it easier for businesses to get insurance coverage. The company also provides basic inventory management tools, helping users keep track of what they store and ship. Additionally, Figorr runs a rental service for refrigerated storage spaces and cold trucks, making it easier for small businesses in particular to access refrigeration without major upfront costs.
A high‑impact investment through Atlantica Ventures
Figorr is a portfolio company of Atlantica Ventures, an early‑stage technology investor active across multiple African markets. Atlantica Ventures focuses on sectors such as agribusiness, logistics, and IoT, backing entrepreneurs who use proven technologies to solve practical challenges in local markets. With DGGF’s support, Atlantica Ventures provides capital and operational guidance to young companies like Figorr. This support is crucial for early‑stage technology businesses that benefit greatly from receiving not only funding, but welcoming strategic partnerships, technical expertise, and access to networks in order to scale sustainably. In this way, DGGF’s catalytic support model can help local businesses thrive while addressing critical challenges such as food loss, safe vaccine distribution, and climate‑sensitive supply chains.